4 Ways IoT can Expand your Business

At Trinity we’re focused on value creation for our customers, turning IoT and mobile data sources into new services and applications. According to Gartner, Inc there are four basic usage models for IoT. These usage models can be applied to your business to improve, extend and monetize your service offering.

1. Manage usage status related data

Using this IoT usage model you can optimize and monitor the usage of an asset or device. The assets may be simple and report very limited data or more complex using data from multiple sensors reporting real-time data. For example, data collected from a Smart Hot Water Geyser Controller can be used to track how a resource is utilized. Lowering costs, minimizing insurance risk and improving the accuracy of projected usage; modifying behaviours.

2. Monetize by Charging for Usage

Apply pay-as-you-go model to turn your products into services that generate long-term revenue. Through IoT, you have the ability to accurately measure usage and enable an asset to be used and billed as a per-usage basis service. In South Africa we have many housing complexes that perform their own estate electricity usage billing. Gathering this data real-time, with audit trail allows body corporates & property owners to accurately bill rather than estimates.

3. Operate Entire Environments through Assets

IoT technology can be used to manage the equipment and activities inside industrial or business processes. Through IoT, you can control the external environment and execute decisions remotely all by connecting environmental systems, machinery, electrical and lighting systems together. In the FMCG market for perishable goods, temperature control is key to sustaining a longer shelf life. Adding monitoring and control, geo-tracked, will allow you to run your business and/or industrial processes more efficiently. Lowering costs and energy consumption.

4. Extend your Services through an Asset

Creating a connected asset enables the opportunity to extend service options. Any physical device can be sold with monitoring services and alerts. For example, a client supplies generators and, at an additional cost, monitoring services that provide proactive incident prevention. Monitoring generators fuel levels, faults and engine hours in real-time and from the comfort of your dashboard. View Case Study